-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Has anyone seen Round Boy’s commercials touting Illinois’ change in their credit rating? Pritzker takes all the credit for that when in fact it was due to a massive infusion of Federal cash.
It gets better, crap fax covered a story that no one else did, but Congressman Raja Krishnamoorthi had a hearing the other day and basically said the resident loss figures are fake and rigged and questioned the integrity of the data. Because the ACS figures were so different from the census figures. Like any good communist, he tells his agency to revise the numbers to make his state look better. IL has no control over the ACS figure which have been reliably used for decades. IL does have control over the census figures because the state of IL helps ‘count’… Read more »
The census figures are what he should question. JB poured millions into a campaign to count every living thing in the 2020 census. In no way is it comparable to the 2010 census. These scumbags have no trouble with numbers being rigged, as long as they’re doing the rigging.